Mackenzie Financial Corp Sells 16,689 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Key Points

• Mackenzie Financial Corp reduced its holdings in NETGEAR, Inc. by 39.1% during the first quarter, now owning 26,009 shares worth $636,000.
• NETGEAR reported earnings of $0.06 per share, exceeding analysts' expectations, with revenue for the quarter at $170.53 million, an 18.5% increase year-over-year.
• Insider selling has occurred, with directors Laura Durr and Sarah Butterfass selling shares, reducing their ownership percentages of NETGEAR stock.

Mackenzie Financial Corp lowered its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 39.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,009 shares of the communications equipment provider's stock after selling 16,689 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of NETGEAR worth $636,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NTGR. Portolan Capital Management LLC purchased a new stake in shares of NETGEAR during the fourth quarter worth about $5,357,000. Barclays PLC grew its position in shares of NETGEAR by 343.1% during the fourth quarter. Barclays PLC now owns 192,226 shares of the communications equipment provider's stock worth $5,357,000 after purchasing an additional 148,841 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of NETGEAR by 47.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider's stock worth $11,319,000 after purchasing an additional 131,243 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of NETGEAR by 143.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 193,778 shares of the communications equipment provider's stock worth $4,740,000 after purchasing an additional 114,085 shares in the last quarter. Finally, Tenzing Global Management LLC grew its position in shares of NETGEAR by 64.3% during the fourth quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider's stock worth $8,013,000 after purchasing an additional 112,500 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut NETGEAR from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

NETGEAR Stock Up 1.7%

NASDAQ NTGR traded up $0.41 during trading on Friday, hitting $25.14. 476,255 shares of the stock traded hands, compared to its average volume of 545,536. The company has a market capitalization of $729.31 million, a P/E ratio of 11.64 and a beta of 1.07. The firm has a 50-day simple moving average of $27.77 and a 200-day simple moving average of $26.57. NETGEAR, Inc. has a 12-month low of $14.86 and a 12-month high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.22. The business had revenue of $170.53 million during the quarter, compared to analysts' expectations of $162.06 million. NETGEAR had a negative return on equity of 3.24% and a net margin of 9.13%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.74) EPS. As a group, research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other news, VP Graeme Mclindin sold 2,377 shares of NETGEAR stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.38, for a total value of $67,459.26. Following the completion of the transaction, the vice president owned 61,208 shares in the company, valued at approximately $1,737,083.04. The trade was a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Durr sold 4,388 shares of NETGEAR stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $29.50, for a total value of $129,446.00. Following the completion of the transaction, the director owned 49,446 shares of the company's stock, valued at approximately $1,458,657. This trade represents a 8.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock worth $490,401 in the last quarter. 2.30% of the stock is owned by corporate insiders.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.